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Stocks discussed on the Lightning Round segment of Jim Cramer's Mad Money Program, Wednesday May 29.

Bullish Calls:

CVR Partners (UAN): "It is at the right level, and I'm saying you can buy it."

Sprint (S): "I like Sprint before, after and during a merger. And I like [CEO] Dan Hesse, because he is the man."

Bearish Calls:

Annaly (NLY): "We can't own these right now. We don't know what they own. The whole bond market is being convulsed. It is too hard. We don't know what they own, but we know they can be poorly positioned. Let's not reach for yield."

NQ (NQ): "No, that is way too speculative."

Federal Realty (FRT): "That used to give you a high yield. It doesn't give a high yield. You have to wait for the high yield. When it's at a 3.5% yield, you can pull the trigger."

Neurocrine Biosciences (NBIX): "It is a spec and only a spec. Even then, it's a diceroll spec."

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Source: Cramer's Lightning Round - Don't Reach For Yield With Annaly (5/29/13)